Business news from Ukraine

Business news from Ukraine

Industrial production in Ukraine fell by 36.9% in 2022

27 March , 2023  

Industrial production in Ukraine in 2022 fell by 36.9%, while in 2021 there was an increase of 1.9%, the State Statistics Service (Gosstat) said on Monday. The agency specified that industrial production in Ukraine decreased by 44.1% in December 2022 against December 2021, while in November the decline was 41.9% and in October – 41.6%.

Last year March was the worst month for the dynamics of industrial production, when after the Russian full-scale invasion it dropped by 53.7%, although in January the growth of 2.9% was recorded, and in February it was 10.1%.

In April the rate of decline decreased to 46.6%, and in May-June – to 40.9%-40.8%, respectively.

In the third quarter, before Russian shelling caused problems with energy supplies, this trend continued: after industrial production fell by 42.3% in July, in August and September it was 39.4% and 39.8%, respectively.

The State Statistics Service specifies that the data does not include the temporarily occupied territory of Crimea and Sevastopol, as well as part of the temporarily occupied territories in Donetsk and Luhansk regions.

By sectors, the statistics agency recorded the largest decline – 41.2% – in the processing industry, while in the extractive industry it was 30.1%, in the supply of electricity, gas and steam – 30.7%.

At the same time, in the extractive industry such indicator provided coal mining (down 7.7%) and gas and oil (down 8.4%), while in the mining of metal ores decline was 61.7% and other minerals and quarrying – 75.1%.